§ 2.19. Independent audit.

The council shall provide for an independent annual audit of all town accounts in accordance with the rules of the auditor general of Florida, which shall include an annual examination of the financial position, the results of operations, and changes in fund balances of all the town funds for the year then ended in accordance with generally accepted auditing standards and may provide for such more frequent examinations as it deems necessary. Such examinations shall be made by a certified public accountant, or firm of such accountants, having no personal interest, direct or indirect, in the fiscal affairs of the town government, or any of its officers.

The council shall secure at least three (3) proposals for such an examination from such accountants or firms for one (1), two (2), or three (3) years. On the basis of these proposals, one shall be selected to perform this examination.

A separate management letter shall be rendered by the examining auditor setting forth deficiencies, if any, disclosed by his or her examination and his or her suggestions for improvements in internal controls. This letter shall be read at the next regularly scheduled council meeting after its receipt. A copy of this letter shall be filed with each copy of the audit report.

The council shall cause the auditor's report on the financial condition, the results of operations, and changes in fund balances for the fiscal year to be published in a newspaper of general circulation in the town for two (2) consecutive issues within ten (10) days following receipt of the report from the auditor.

If the auditor for the State of Florida should perform such an examination and furnish such a letter, the council may accept them as satisfying the requirements of this section.

(Ord. No. 05-12, § 1, 2-21-2012/3-13-2012; Ord. No. 10-12, § 1, 2-21-2012/3-13-2012)

State law reference

Annual audit required, F.S. § 218.32; auditor selection procedure, F.S. § 218.391.